System and Method for Chart Based Order Entry

1. A system for chart based order entry, the system comprising: a trading station adapted to receive market data corresponding to a tradeable object, wherein the trading station is further adapted to display historical market data corresponding to the tradeable object on a chart, the historical market data being mapped to a plurality of values along a value axis, wherein the trading station is further adapted to display a movable order entry interface, wherein the order entry interface comprises a plurality of price objects corresponding to a plurality of price levels, wherein the order entry interface is displayed in relation to a cursor of a user input device, wherein the cursor is at a location in relation to the chart, wherein the location changes as the cursor is moved in response to input from a user, wherein the trading station is further adapted to track the cursor, wherein the tracking comprises moving the order entry interface in relation to the cursor when the cursor moves to a new location in relation to the chart, wherein the trading station is further adapted to dynamically determine the plurality of price levels based on the new location of the cursor, wherein the trading station is further adapted to freeze the plurality of price levels upon detecting a first user input, wherein the freezing comprises stopping dynamically determining of the plurality of price levels based on the location of the cursor, wherein the trading station is further adapted to select one of the frozen plurality of price levels based on a second user input, wherein the trading station is further adapted to send a trade order to buy or sell the tradeable object to an electronic matching engine, wherein the trade order is based on the selected price level.

2. The system of claim 1 , wherein the plurality of price objects of the order entry interface are arranged outward on a circular shape.

3. The system of claim 1 , wherein the plurality of price objects of the order entry interface are arranged outward on an arc shape.

4. The system of claim 3 , wherein an angle corresponding to the arc shape is adjustable.

5. The system of claim 1 , wherein the plurality of price objects of the order entry interface are arranged to form a pie-chart interface.

6. The system of claim 1 , wherein the plurality of price objects of the order entry interface are arranged based on a user-defined shape.

7. The system of claim 1 , wherein the plurality of price objects of the order entry interface are divided into a plurality of bid price objects and a plurality of ask price objects.

8. The system of claim 7 , wherein the plurality of ask price objects display different price levels than the plurality of bid price objects.

9. The system of claim 7 , wherein the trading station is further adapted to set a price of the trade order, wherein the selected price object is a selected bid price object, wherein the price is the price level corresponding to the selected bid price object, wherein the trade order is an order to buy the tradeable object.

10. The system of claim 7 , wherein the trading station is further adapted to set a price of the trade order, wherein the selected price object is a selected ask price object, wherein the price is the price level corresponding to the selected ask price object, wherein the trade order is an order to sell the tradeable object.

11. The system of claim 1 , wherein the order entry interface further comprises at least one quantity object, wherein the at least one quantity object corresponds to a quantity to be used in relation to the trade order.

12. The system of claim 11 , wherein the trading station is further adapted to select a quantity for the trade order using the at least one quantity object.

13. The system of claim 1 , wherein the trading station is further adapted to receive a default quantity to be used in relation to trade orders entered via the order entry interface, and wherein the trading station is further adapted to set a quantity for the trade order to the default quantity before the trade order is sent to the electronic matching engine.

14. The system of claim 1 , wherein the second user input comprises the cursor moving to one of the plurality of price objects of the order entry interface to select the price level for the trade order.

15. The system of claim 1 , wherein the first user input comprises a selection of a key on a keyboard.

16. The system of claim 1 , wherein the user input device comprises a mouse, and wherein the first user input comprises depressing a mouse button.

17. The system of claim 16 , wherein selecting the frozen price level comprises the mouse moving while the mouse button is depressed to a price object and the mouse button being released to select the price level, and wherein the trade order is sent to the matching engine when the mouse button is released.

18. The system of claim 1 , wherein the trading station is further adapted to display the market data in relation to the plurality of price objects of the order entry interface.

19. The system of claim 18 , wherein displaying the market data comprises displaying current market depth for each of the plurality of price levels corresponding to the plurality of price objects.

20. The system of claim 1 , wherein the trading station is further adapted to display a working order indicator at one of the plurality of price objects to indicate a working buy or sell order at a price level corresponding to the one of the plurality of price objects.

21. The system of claim 1 , wherein the trading station is further adapted to display traded volume in relation to at least one of the plurality of price objects.

22. The system of claim 1 , wherein the trading station is further adapted to update the historical market data displayed on the chart with current market data as the current market data is received.

23. The system of claim 22 , wherein the trading station is further adapted to display a current highest bid price available for trading the tradeable object.

24. The system of claim 22 , wherein the trading station is further adapted to display a current lowest ask price available for trading the tradeable object.